China Holiday Data Show Slower-Than-Expected Economy Rebound
- Trips, revenue inch barely above 2019 levels, data show
- Additional policy easing may be necessary, economists say
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Chinese consumers traveled and spent less over the Golden Week holiday than the government had hoped, while lukewarm home sales stirred concerns about whether more support will be needed to bolster economic growth.
The nation recorded some 826 million domestic trips over the eight-day vacation period that concluded Friday, bringing in some 753.4 billion yuan ($103 billion) in revenue, official data showed.